Transaction instruments with enhanced security pin and expiration date generation

ABSTRACT

The present invention generally relates to transaction instruments with enhanced expiration date and/or security personal identification number (PIN) generation. The enhanced security PIN generation may be usefully in connection with account information associated with the transaction instrument to verify and/or authenticate the transaction instrument. In certain aspects, the security PIN may be used in connection with account information associated with the transaction information to authenticate the transaction instrument via a synchronization-based authentication process or similar process. By way of example, the account information may be used as a static identifier to indicate identity of the transaction instrument, and the security PIN may be used to authenticate the identity of the transaction instrument.

BACKGROUND OF THE INVENTION

This application relates generally to transaction instruments.

Transaction instruments, such as presentation and transaction cards, andthe use of such instruments to access, e.g., financial or stored valueaccounts is well known. Examples of such presentation or transactionscards include credit cards, debit cards (including check cards), ATMcards, phone cards, stored value cards, and the like. Presentation andtransaction cards are also known to provide advertising, display, orinformational items.

When used in financial or transactional matters, such instrumentstypically contain an account number in some form or another that permitsthe card holder to gain access to their account, such as when making apurchase. One common way to store the account information is through theuse of a magnetic stripe that extends lengthwise along the card. To readthe card, a point of sale device, such as the one described in U.S.application Ser. No. 10/116,689, filed Apr. 3, 2002, incorporated hereinby reference, may be used. The account identifier that is read from thecard may then be electronically transmitted to a processing system inorder to complete the transaction. Another way to store the accountinformation is by using a bar code that is read using a bar code reader.Other forms of storage devices include smart chips, RFID tags, MICRlines, and the like.

In particular to capitalize upon online commerce, while reducing therisk of fraud, new methods of payment authentication have been devised.There are address verification services that check the address providedagainst the billing address with the credit card company. Modern creditcards also have a card verification value (CVV) code imprinted on theback or front of the credit card that is not part of the credit cardnumber (VISA™ refers to the code as CVV2, MasterCard™ calls it CVC2, andAmerican Express™ calls it CID). Authenticating that the buyer has theproper CVV code tends to show the buyer physically has the card.Similarly, some authenticate the customer service number on the creditcard. The use of user selected or card issuer selected personalidentification numbers (PINs) to authenticate users is also common.However, compromise of PINs and/or loss of physical cards still resultin significant identify theft and fraud.

BRIEF SUMMARY OF THE INVENTION

To address these and other needs, the present invention providestransaction instruments with enhanced security PIN generation.

Thus in a first aspect, a transaction instrument with enhanced securityPIN generation is provided. The transaction instrument generallyincludes: a card body; an account identifying mechanism for providingaccount information associated with the transaction instrument; and asecurity personal identification number (PIN) generation mechanism,wherein a new security PIN is automatically generated at a predeterminedinterval and provided via the security PIN generation mechanism.

In certain embodiments, the security PIN generation mechanism comprisesa random number generator, and the security PIN generation mechanismautomatically generates a new security PIN at a predetermined intervalbetween about 60 seconds and seven days.

In another aspect of the invention, a transaction instrument withenhanced security is provided. The transaction instrument generallyincludes: a card body; an account identifying mechanism for providingaccount information associated with the transaction instrument; and anenhanced expiration date generation mechanism, wherein a new expirationdate is automatically generated at a predetermined interval and providedvia the enhanced expiration date generation mechanism. The transactioninstrument may further comprise a security PIN generation mechanism inaccordance with the invention, as described herein.

In another aspect of the invention, a method for providing enhancedsecurity to financial transactions using transaction instruments isprovided. The method generally includes: initiating a financialtransaction between a first party and a second party using a transactioninstrument of the invention; providing financial account informationassociated with the transaction instrument and transmitting thefinancial account information to a transaction facilitator serviceprovider for verification of the financial account information;providing a security PIN generated by the security PIN generationmechanism and transmitting the security PIN to the transactionfacilitator service provider for authentication of the transactioninstrument; and authorizing the financial transaction of the financialaccount information is verified and the transaction instrument isauthenticated.

In certain embodiments, the transaction facilitator service provideruses the financial account information as a static identifier toindicate identity of the first party and the security PIN toauthenticate identity of the first party via a synchronization-basedauthentication process or other suitable PIN security/authenticationmethodology. The security PIN generation mechanism may be configured soas to be recognized as identifiable with the financial accountinformation by the authentication process.

In certain embodiments, the financial transaction is a card not presenttransaction via telephone or the internet In other embodiments, thefinancial transaction is a face-to-face transaction, and the financialaccount information and security PIN are transmitted to the transactionfacilitator service provider automatically via the point-of-sale deviceor entered by hand via the key pad of the point-of-sale device.

These and other aspects will become apparent to one of skill in the artupon reading the disclosure.

BRIEF DESCRIPTION OF THE DRAWINGS

FIGS. 1A and 1B illustrate exemplary embodiments of the presentation ortransactions cards of the present invention.

FIG. 1C illustrates an alternative embodiment of a fob presentation ortransaction card of the present invention.

FIG. 1D illustrates an exemplary embodiment of a presentation ortransaction card of the present invention including an embedded RFID tagsecurity PIN generation mechanism, and a fob which is configured to readthe RFID tag output to thereby display the generated security PIN.

FIG. 1E illustrates an exemplary embodiment of a presentation ortransaction card of the invention including an enhanced expiration dategeneration mechanism of the invention.

FIG. 2A illustrates an exemplary method of generating and authenticatingsecurity PINs in accordance with certain embodiments of the invention.

FIG. 2B illustrates an exemplary method of generating expiration datesin accordance with certain embodiments of the invention.

FIG. 3 illustrates an exemplary system for performing a method of theinvention.

DETAILED DESCRIPTION OF THE INVENTION

The present invention generally relates to transaction instruments withenhanced security personal identification number (PIN) generation. Theenhanced security PIN generation may be usefully in connection withaccount information associated with the transaction instrument to verifyand/or authenticate the transaction instrument. In other aspects, thetransaction instruments of the invention may optionally include enhancedexpiration date generation.

In certain aspects, the security PIN may be used in connection withaccount information associated with the transaction information toauthenticate the transaction instrument via a synchronization-basedauthentication process, as described in further detail herein. By way ofexample, the account information may be used as a static identifier toindicate identity of the transaction instrument, and the security PINmay be used to authenticate the identity of the transaction instrumentvia a synchronization-based process by a transaction facilitator serviceprovider.

In one embodiment, a transaction instrument of the invention includes: acard body; an account identifying mechanism for providing accountinformation associated with the transaction instrument; and a securitypersonal identification number (PIN) generation mechanism, whichautomatically generates a new security PIN at a predetermined interval.In other embodiments, a transaction instrument of the inventionincludes: a card body; an account identifying mechanism for providingaccount information associated with the transaction instrument; anenhanced expiration date generation mechanism, which automaticallygenerates a new expiration date at a predetermined interval; andoptionally a security PIN generation mechanism.

More specifically, with reference to FIGS. 1A and 1B, an exemplarytransaction instrument 10 of the invention is illustrated. Transactioninstrument 10 may generally include a presentation or transaction cardbody 100 defining a front surface 100 a (FIG. 1A) and a back surface 100b (FIG. 1B), as generally recognized by those skilled in the art. Thepresentation or transaction card 10 may be any known type ofpresentation or transaction card, such as credit cards, debit cards(including check cards), automated teller machine (ATM) cards, phonecards, stored-value cards, transit cards, etc. However, the invention isnot limited to the particular use of the presentation or transactioncard. Further, the card body may be sized and shaped in any mannersuitable for the intended use. For instance, in certain embodiments, thetransaction instrument may be shaped in a generally rectangularconfiguration, such as shown in FIGS. 1A and 1B.

In other embodiments, the transaction instrument may be configured as afob (FIG. 1C), as generally understood by those skilled in the art. Insuch embodiments, the card body 100 of the fob may be suitably sized andshaped to house at least the desired account identifying mechanisms andsecurity PIN generation mechanisms, as described herein. By way ofexample, the fob card body 100 may include RFID tags or chips, suitablysized and shaped magnetic stripes, LCD displays, etc., as furtherdescribed herein.

The card body 100 may also generally be configured to include an accountidentifying mechanism for providing account information associated withthe transaction instrument. In certain embodiments, the accountidentifying mechanism may include a magnetic stripe 140 or other machinereadable mechanism (not shown) such as an embedded memory chip withexposed contacts on the card body, an RFID chip embedded in the cardbody, bar code information printed on the card body, MICR line, orcombinations thereof. In such embodiments, it may be preferable toutilize standard configurations for the machine readable mechanisms soas to aid in compatibility with, e.g., point of sale devices, chipreaders, bar code readers, etc. In certain embodiments, such as when thecard body 100 is shaped as a fob, the account identifying mechanism maybe an embedded RFID chip (not shown) or a magnetic stripe 140, which mayoptionally be configured so as to hingedly swing from within the body ofthe fob for storage when not in use, but to swing from within the bodyof the fob for access when in use.

For instance, it may be desirable for the machine readable components tobe sized and shaped to as to be adaptable for use in connection withstandard point-of-sale device. Examples of suitable POS devices areprovided in the following commonly assigned applications, the entiredisclosures of which are incorporated herein by reference for allpurposes: U.S. Prov. Pat. Appl. No. 60/147,889, entitled “IntegratedPoint Of Sale Device,” filed Aug. 9, 1999 by Randy J. Templeton et al.;U.S. patent application Ser. No. 09/634,901, entitled “Point Of SalePayment System,” filed Aug. 9, 2000 by Randy J. Templeton et al.; U.S.patent application Ser. No. 10/116,689, entitled “Systems And MethodsFor Performing Transactions At A Point-Of-Sale,” filed Apr. 3, 2002 byEarney Stoutenburg et al; U.S. patent application Ser. No. 10/116,733,entitled “Systems And Methods For Deploying A Point-Of-Sale System,”filed Apr. 3, 2002 by Earney Stoutenburg et al.; U.S. patent applicationSer. No. 10/116,686, entitled “Systems And Methods For Utilizing APoint-Of-Sale System,” filed Apr. 3, 2002 by Earney Stoutenburg et al.;and U.S. patent application Ser. No. 10/116,735, entitled “Systems AndMethods For Configuring A Point-Of-Sale System,” filed Apr. 3, 2002 byEarney Stoutenburg.

In other embodiments, the account identifying mechanism may includeaccount information 130 printed or displayed on at least one surfacethereof, alone or in combination with one or more machine readablemechanism(s). Such information 130 may also include user identificationinformation, promotional information, advertising information, securityinformation, etc.

More particularly, in certain embodiments, the presentation ortransaction cards of the invention may generally comprise some form ofaccount identifying mechanism, which may be sufficient to uniquelyidentify at least one account associated with the transactioninstrument. Merely by way of example, a card may comprise a magneticstripe and/or a bar code. The card identifier, which might be a serialnumber and/or other string of text and/or numbers, then, might beencoded onto the magnetic stripe and/or represented by the bar code.Those skilled in the art will appreciate the variety of methods that canbe used to encode/decode a magnetic stripe and/or translate a bar code.Further, those skilled in the art will appreciate that there are anumber of ways known in the art to store information associated with apresentation or transaction card, and any of them may be used asappropriate to store the first and/or second identifiers. Merely by wayof example, in some embodiments, the first and/or second identifier maybe stored in various ways (such as RFID tag or chips embedded in thecard, holograms, etc.) and/or any appropriate scanner, RFID readerand/or hardware may be used to obtain and/or input the first and/orsecond identifier. Bar codes, track data, account information, etc. mayalso be printed on the card, as known in the art.

In some cases, the presentation or transaction cards may comprise both amagnetic stripe and a bar code. The magnetic stripe may be used to storea first identifier (such as an account number associated with theinstrument and/or the like), which may also be printed, embossed, etc.on the instrument. The bar code may represent a second identifier, whichmay have some relation to the first identifier, or may incorporate apersonal account number, a personal identification number, etc. Merelyby way of example, in some cases, the bar code may be a Code 128 barcode known in the art. As recognized by those skilled in the art, theidentifier may also be encrypted. The encrypted value representing theidentifier can be derived using any appropriate technique, of which manyare known in the art. An exemplary technique may comprise 3DESencryption. As used herein, a stored-value instrument identifier can beany single identifier or combination of identifiers, such as a firstidentifier, second identifier, etc., or any combination thereof.

The presentation and transaction cards of the present invention furtherinclude a security PIN generation mechanism 110. The security PINgeneration mechanism 110 automatically generates a new security PIN at apredetermined interval. In certain embodiments, the security PINgeneration mechanism 110 comprises a random number generator or othersuitable secure ID token known in the art of virtual private networks.By way of non-limiting example, the security PIN generation mechanismmay automatically generate a new security PIN at a predeterminedinterval between about 60 seconds and seven days, e.g., about every 60seconds, 2 minutes, 5 minutes, 10 minutes, 15 minutes, 30 minutes, 1hour, 12 hours, 24 hours, 2 days, 5 days, etc.

In certain embodiments, the security PIN generation mechanism mayinclude a liquid crystal display (LCD) or other suitable machinereadable mechanism(s) for displaying the security PIN as it isgenerated. By way of example, the security PIN generation mechanism mayinclude an LCD display, a smart chip, a RFID tag, or variouscombinations thereof. Further, as shown, the security PIN generationmechanism 110 may be visibly located on the back surface 100 b of thecard body 100, or alternatively may be located on the front surface ofthe card body (not shown). In other embodiments, the display updatemechanism may be integrated into the interior of the card body, and maynot be visible on the surface of the card, but rather accessible via,e.g., a smart card, RFID, or other suitable reader.

For instance, with reference to FIG. 1D, transaction instrument 10 c isillustrated, wherein PIN generation mechanism 110 is an embedded RFIDtag, and external reader fob 150 is configured so as to read and displaythe security PIN generated by the security PIN generation mechanism 110and transmitted by the RFID tag. By way of example, external reader fob150 may be placed in proximity of the embedded RFID tag such that thetransmitted signal from the RFID tag is received by the external readerfob 150, and the external reader fob 150 may then display the generatedsecurity PIN. Such an external reader fob 150 may be configured in anysuitable manner known in the art, and may be shaped in any suitablemanner, including but not limited to a key chain shaped device, a POSdevice peripheral device, a personal computer peripheral device, acredit card shaped device, etc.

In other embodiments of the invention, the transaction instruments ofthe invention, as described in any of the embodiments above, may includean enhanced expiration date generation mechanism, together with asecurity PIN generation mechanism or without. In certain embodiments,the enhanced expiration date generation mechanism may automaticallygenerate a new expiration date at a predetermined interval of, e.g.,every 24 hours, every seven days, every 30 days, etc., for apredetermined amount of time, e.g., up to about five years, about sixyears, about seven years, about 10 years, etc. For instance, at thebeginning of each new predetermined interval, a new expiration datecorresponding to the date of the end of that predetermined interval maybe set. Then, if the transaction instrument is reported lost or stolen,or fraudulent activities are detected during that predeterminedinterval, the enhanced expiration date mechanism may be deactivated, andthe transaction instrument may be allowed to expire. Alternatively, ifno issues are reported or detected, new expiration dates may be issuedfor a transaction instrument for extended periods of time without theneed to issue and mail new cards, thereby reducing the risk ofadditional fraud through interception of the card in the mails.

By way of example, with reference to FIG. 1E, a transaction instrument10 e of an embodiment of the invention including enhanced expirationdate generation mechanism 112 is illustrated. As above with reference toFIGS. 1A-1D, transaction instrument 10 e may generally include apresentation or transaction card body 100 defining a front surface 100 aand a back surface (not shown), as generally recognized by those skilledin the art. The card body 100 may also generally be configured toinclude an account identifying mechanism for providing accountinformation associated with the transaction instrument. By way ofnon-limiting example, the account identifying mechanism may includeaccount information 130 printed or displayed on at least one surfacethereof, alone or in combination with one or more machine readablemechanism(s). Such information 130 may also include user identificationinformation, promotional information, advertising information, securityinformation, etc. The transaction instrument 10 e may optionally includea security PIN generation mechanism (not shown), as described herein.

In other aspects of the invention, methods for providing enhancedsecurity to financial transactions using transaction instruments areprovided. In accordance with the methods of the invention, a securityPIN is generated as described herein in connection with a financialtransaction to verify and/or authenticate a transaction instrument. Inother embodiments, an enhanced expiration date is generated as describedherein in connection the use of a transaction instrument describedherein. While the methods of the invention will generally be describedwith reference to the embodiments of FIGS. 1A-1E, it is understood thatthe methods are not so limited.

Turning now to FIG. 2A, a general method 200 is illustrated, wherein atblock 202 a financial transaction between a first party and a secondparty is initiated using a transaction instrument 100 of the invention.Any presentation or transaction instrument 10 of the invention may beused in connection with the methods described herein. For instance, thepresentation or transaction instrument 10 of the invention may comprisesa card body 100, an account identifying mechanism, e.g., 130, 140, and asecurity PIN generation mechanism 110. The method then continues toblock 204 where financial account information associated with thetransaction instrument is provided and transmitted to a transactionfacilitator service provider for verification. The security PINgenerated by the security PIN generation mechanism is then provided andtransmitted the security PIN to the transaction facilitator serviceprovider for authentication at block 206.

Continuing to block 208, the transaction facilitator service providerthen verifies account information and authenticates the transactioninstrument if the account information and the security PIN areauthenticated; and the financial transaction is authorized at block 210is the transaction instrument is authenticated.

The transaction facilitator service provider may be any suitable serviceprovider for facilitating financial transaction and authenticating thestatus of transaction instruments, such as the generally known financialnetworks. In certain embodiments, the transaction facilitator serviceprovider uses the financial account information as a static identifier,e.g., to indicate identity of the first party, and the security PIN toauthenticate identity, e.g., of the first party via an authenticationprocess which verifies the generated PIN with the identified transactioninstrument using any suitable algorithm for syncing transactionfacilitator service provider activities with the security PIN generationmechanism.

More specifically, the security PIN generation mechanism may beconfigured so as to be recognized as identifiable with the financialaccount information by the authentication process. For instance, variousdatabase(s), including third party database(s) if desired, or similarprocesses may be used by the transaction facilitator service provider tocorrelate a signature or secure ID from the security PIN generationmechanism with the account information associated with the transactioninstrument so as to authenticate the transaction instrument uponpresentation of the security PIN at the appropriate predetermined timeinterval, as generally understood by those skilled in the art.

The methods of the invention are particularly well suited for “card notpresent” type financial transactions, such as those via telephone or theinternet, where CVV codes are often used. However, the invention is notso limited, as the enhanced security is also useful in face-to-face typetransactions. In such transactions, the financial account informationand/or the security PIN may be transmitted to the transactionfacilitator service provider via machine readable mechanisms, such as apoint-of-sale device. Any suitable point-of-sale device known in theart, such as those discussed above, may be used, including those withmagnetic stripe readers, RFID readers, smart card readers, etc. By wayof non-limiting example, the security PIN may be transmitted to thetransaction facilitator service provider automatically via thepoint-of-sale device (e.g., via an RFID or smart card reader) or enteredby hand via the key pad of the point-of-sale device (e.g., after displayfrom an LCD read out).

As described above, the presentation or transaction instrument may be acredit card, debit card (including a check card), automated tellermachine card, phone card, stored-value card, transit card, etc. Thus,the methods of the invention may provide enhanced security for a varietyof financial transactions, including credit, debit, stored value (i.e.,gift card), etc.

In another aspect of the invention, the transaction instruments of theinvention including enhanced expiration date generation mechanisms maybe used in financial transactions, including card not present type aswell as in-person transactions. For instance, with reference to FIG. 2B,method 211 is illustrated, wherein expiration date generation mechanismis utilized to automatically generate new expiration dates at apredetermined interval for a predetermined duration of time, so long asno fraudulent activities are reported or detected. By way ofnon-limiting example, fraudulent activities include non-authorizedfinancial transactions, lost or stolen card reports, non-paid accountstatus, inactive accounts, etc., as recognized by those skilled in theart.

Now, at block 212, an initial expiration date is generated by expirationdate generation mechanism 112, and the predetermined time interval isset to its initial status indicator, e.g., the predetermined timeinterval counter is set to zero. At block 214, the time counter isallowed to cycle to the end of its predetermined time interval, e.g.,seven days, thirty days, etc. Then, at block 216, if no fraudulentactivities have been reported or detected by a transaction facilitatorservice provider and/or transaction instrument issuer, then a newexpiration date is automatically generated by the expiration dategeneration mechanism 112. This procedure for generating new expirationdates is repeated at block 218 for a predetermined duration of time,e.g., 2 years, 5 years, 6 years, 7 years, 10 years, etc., so long as nofraudulent activities are reported or detected at block 216.

Referring now to FIG. 3, certain aspects of system 300 that may be usedto perform financial transactions using transaction instruments withenhanced expiration date generation and/or security PINs in accordancewith the invention is described. In certain exemplary embodiments,system 300 comprises a transaction facilitator service provider centralcontrol 310 including a processing system 312, at least one associateddatabase 314, and an Interactive Voice Response (“IVR”) unit 319.

Database(s) 314 can be relational databases, such as Oracle databases,that contain records regarding account information, expiration dategeneration mechanism IDs, security PIN generation mechanism IDs, andassociated transaction instruments. This information may include, forexample, types of transactions instruments, associated accountinformation, expiration date generation mechanism identifiers (e.g.,secure ID token), security PIN generation mechanism identifiers (e.g.,secure ID token), associated security PINs, and the like. For instance,the database(s) 314 may comprise account information and security PINgeneration ID information associated with identifiable transactioninstruments for verification and authentication of the transactioninstruments.

Further, any portion or database(s) 314, or a complete database, may bea third party database, or may include third party database information,such as third party databases known in the art for authentication andapproval of user identification information. Processing system 312 maybe, e.g., a Sun Microsystems workstation, and may work in cooperationwith database(s) 314 to permit information to be updated, to permitcards to be issued, to permit transactions to occur, and the like. Incertain embodiments, secondary systems and databases (not shown) mayoptionally retrieve at least a portion of the approvals andauthentications from processing system 312 and/or database(s) 314 forcommunication to, e.g., merchants, financial service providers, and/orusers, to facilitate the requested financial transactions or reportpotential fraudulent activities.

Processing system 312 may receive information from a variety of sources.For example, processing system 312 may be accessed through the Internet316 by any type of computer 318 (e.g., a consumer personal computer) asis known in the art. Additionally, processing system 312 may be accessedthrough communication network 320 using, e.g., a POS device 330. Otherways to access processing system 312 include the use of IVR 319, orthrough a customer service representative (CSR). Any suitable method ofcommunication known in the art may be used to transmit information toprocessing system 312, database(s) 314, and the various devices, such asvia frame network, asynchronous dial-up, VSAT, X.25, lease line, virtualprivate network (VPN), etc.

As one example, in accordance with method 200, a financial transactionmay be initiated using, e.g., POS device 330. Information, such astransaction instrument type, account information, and the like may begathered by POS device 330, and then transmitted to processing system312 at a transaction facilitator service provider central control 310.In some embodiments, this information can be gathered by swiping acredit card through a magnetic reader associated with POS device 330,wherein the information is automatically gleaned from the credit card.Other methods of gathering the information are also possible, forexample, the information may be gleaned from a smart cart inserted intoPOS device 330 and the information read via electronic reader interface,POS device 330 may include a bar code reader attached to, for example,an electronic reader interface, that can read a bar code that providessimilar information, or a number of other ways of gathering information.One of ordinary skill in the art will recognize other possibilities forgarnering information related to providing a stored value card inaccordance with the present invention.

In addition to information automatically provided via POS device 330,additional information may be entered via interfaces associated with POSdevice 330. For example, the generated security PIN from the transactioninstrument may be entered via a keypad and/or a touch-screen of POSdevice 330. The security PIN is then transmitted to processing system312 at the transaction facilitator service provider.

The information received at POS device 330 may be transferred viacommunication network 120 to processing system 312. After processingsystem 312 receives the necessary information, the processing system 312compares the account information and security PIN against information indatabase 314 to verify and/or authenticate the transaction instrument.Processing system 312 then communicates whether the transactioninstrument has been successfully authenticated to POS device 330 viacommunication network 320. If the transaction instrument wassuccessfully authenticated, the financial transaction is authenticated.

Having described several embodiments, it will be recognized by those ofskill in the art that various modifications, alternative constructions,and equivalents may be used without departing from the spirit of theinvention. Accordingly, the above description should not be taken aslimiting the scope of the invention, which is defined in the followingclaims.

1. A transaction instrument with enhanced security PIN generation, thetransaction instrument comprising: a card body; an account identifyingmechanism for providing account information associated with thetransaction instrument; and a security personal identification number(PIN) generation mechanism, wherein a new security PIN is automaticallygenerated at a predetermined interval and provided via the security PINgeneration mechanism.
 2. The transaction instrument of claim 1, furthercomprising an enhanced expiration date generation mechanism, wherein anew expiration date is automatically generated at a predeterminedinterval for a predetermined duration of time, and provided via theenhanced expiration date mechanism.
 3. The transaction instrument ofclaim 2, wherein the expiration date is automatically generated at apredetermined interval selected from the group consisting of: every 24hours, every seven days, and every 30 days, for a predetermined durationof time selected from the group consisting of: up to about five years,up to about six years, up to about seven years, and up to about 10years.
 4. The transaction instrument of claim 2, wherein the enhancedexpiration date generation mechanism is configured so as to bedeactivated if fraudulent activity of the transaction instrument isreported or detected such that new expiration dates are not issued andthe transaction instrument is allowed to expire at the end of the nextpredetermined interval.
 5. The transaction instrument of claim 1,wherein the transaction instrument is selected from the group consistingof: credit cards, debit cards, automated teller machine (ATM) cards,phone cards, and stored value cards.
 6. The transaction instrument ofclaim 1, wherein the account identifying mechanism comprises printedaccount information.
 7. The transaction instrument of claim 1, whereinthe account identifying mechanism comprises at least one machinereadable mechanism.
 8. The transaction instrument of claim 7, whereinthe at least one machine readable mechanism is selected from the groupconsisting of: a magnetic stripe, a smart chip, a RFID tag, a MICR line,and combinations thereof.
 9. The transaction instrument of claim 1,wherein the security PIN generation mechanism comprises a random numbergenerator.
 10. The transaction instrument of claim 1, wherein thesecurity PIN generation mechanism automatically generates a new securityPIN at a predetermined interval between about 60 seconds and seven days.11. The transaction instrument of claim 1, wherein the security PINgeneration mechanism comprises a liquid crystal display (LCD) fordisplaying the security PIN.
 12. The transaction instrument of claim 1,wherein the security PIN generation mechanism comprises at least onemachine readable mechanism for providing the security PIN.
 13. Thetransaction instrument of claim 12, wherein the at least one machinereadable mechanism is selected from the group consisting of: a smartchip, a RFID tag, and combinations thereof.
 14. A method for providingenhanced security to financial transactions using transactioninstruments, the method comprising: initiating a financial transactionbetween a first party and a second party using a transaction instrument,wherein the transaction instrument comprises: a card body; an accountidentifying mechanism for providing financial account informationassociated with the transaction instrument; and a security personalidentification number (PIN) generation mechanism, wherein a new securityPIN is automatically generated at a predetermined interval and providedvia the security PIN generation mechanism; providing financial accountinformation associated with the transaction instrument and transmittingthe financial account information to a transaction facilitator serviceprovider for verification of the financial account information;providing a security PIN generated by the security PIN generationmechanism and transmitting the security PIN to the transactionfacilitator service provider for authentication of the transactioninstrument; and authorizing the financial transaction of the financialaccount information is verified and the transaction instrument isauthenticated.
 15. The method of claim 14, wherein the transactionfacilitator service provider uses the financial account information as astatic identifier to indicate identity of the first party and thesecurity PIN to authenticate identity of the first party via asynchronization-based authentication process.
 16. The method of claim15, wherein the security PIN generation mechanism is configured so as tobe recognized as identifiable with the financial account information bythe synchronization-based authentication process.
 17. The method ofclaim 14, wherein the transaction instrument is selected from the groupconsisting of: credit cards, debit cards, automated teller machine (ATM)cards, and stored value cards.
 18. The method of claim 14, wherein theaccount identifying mechanism comprises at least one machine readablemechanism.
 19. The method of claim 18, wherein the at least one machinereadable mechanism is selected from the group consisting of: a magneticstripe, a smart chip, a RFID tag, a MICR line, and combinations thereof.20. The method of claim 14, wherein the security PIN generationmechanism comprises a random number generator.
 21. The method of claim14, wherein the security PIN generation mechanism automaticallygenerates a new security PIN at a predetermined interval between about60 seconds and seven days.
 22. The method of claim 14, wherein thesecurity PIN generation mechanism comprises a liquid crystal display(LCD) for displaying the security PIN.
 23. The method of claim 14,wherein the security PIN generation mechanism comprises at least onemachine readable mechanism for providing the security PIN.
 24. Themethod of claim 23, wherein the at least one machine readable mechanismis selected from the group consisting of: a smart chip, a RFID tag, andcombinations thereof.
 25. The method of claim 14, wherein said financialtransaction is a card not present type transaction via telephone or theinternet.
 26. The method of claim 14, wherein the financial transactionis a face-to-face type transaction, and the financial accountinformation and security PIN are transmitted to the transactionfacilitator service provider via a point-of-sale device.
 27. The methodof claim 26, wherein the security PIN is transmitted to the transactionfacilitator service provider automatically via the point-of-sale deviceor entered by hand via the key pad of the point-of-sale device.
 28. Asystem for providing enhanced security to financial transactions usingtransaction instruments, the system comprising: transaction facilitatorservice provider central control in communication with atelecommunication network; wherein the transaction facilitator serviceprovider central control includes a processing system, at least oneassociated database, and an optional Interactive Voice Response (IVR)unit; and wherein said at least one associated database comprisesaccount information and security PIN generation ID informationassociated with identifiable transaction instruments for verificationand authentication of the transaction instruments.
 29. The system ofclaim 28, wherein the processing system is in communication with atleast one Point-of-Sale (POS) device via the telecommunication network.30. The system of claim 28, wherein the processing system is incommunication with at least one consumer personal computer via thetelecommunication network.